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☆ U.S. CFOs Ask Congress to Repeal Change to R&D Tax Rules
▼ + stars: | 2022-11-07 | by ( Jennifer Williams-Alvarez | In A Letter Finance Chiefs On The Change To R D Deductibility Tax Rules. | ) www.wsj.com time to read: +8 min

For decades, businesses were allowed to deduct certain R&D expenses straight away to reduce their taxable income. Tax deductions are subtractions from taxable income while tax credits get subtracted from the amount of tax owed. Over the course of this year, companies have been making estimated tax payments that incorporate the R&D change, tax attorneys said. On the agenda: Agreeing on funding the government to avoid a shutdown, aid for Ukraine, alongside potential changes to the treatment of R&D expenses. When it comes to a potential repeal or deferral related to R&D deductibility, timing is crucial, said Shelby Ford, a tax partner at Crowe LLP, a public accounting, consulting and technology firm.

☆ At least 15 killed in Russian nightclub fire
▼ + stars: | 2022-11-05 | by ( Associated Press | ) www.nbcnews.com time to read: +1 min

A fire in a nightclub in the Russian city of Kostroma killed 15 people and injured five others on Saturday, local authorities said. The blaze erupted in the early hours after someone apparently used a flare gun during a dispute, authorities said. The fire broke out at Polygon, a multi-purpose recreation venue used as a cafe, nightclub and bar. A criminal investigation has been launched, and the police are searching for the person who used the flare gun. In 2009, more than 150 people were killed in a blaze at the Lame Horse nightclub in the city of Perm that erupted after someone set off fireworks.

☆ At least 13 killed in Russian nightclub fire
▼ + stars: | 2022-11-05 | by ( ) www.reuters.com time to read: +2 min

Russian Emergencies Ministry in Kostroma region/Handout via REUTERSNov 5 (Reuters) - At least 13 people died after a fire broke out in a busy nightclub in the Russian city of Kostroma, officials said on Saturday. Kostroma is a city of around 270,000 people, 300 km (190 miles) north-east of Moscow on the banks of the river Volga. The fire took place in the early hours of the morning at Polygon, a multi-purpose recreation venue used as a cafe, nightclub and bar. Most of those killed in the fire had been found in the smoking room, utility room and near the toilets, TASS reported, citing emergency services. "As a result of the fire, 13 people died; the number of dead and injured is being clarified," the Investigating Committee said in a statement.

But unbeknownst to this good Samaritan, he was being watched by an Amazon Ring doorbell camera on the front porch, reported The Washington Post. Surveillance proponents will claim this act of violence had nothing to do with Ring and other networked doorbell cameras. Surveillance proponents will claim this act of violence had nothing to do with Ring and other networked doorbell cameras. But we have to face reality: Blanketing our neighborhoods in surveillance devices that promote a culture of suspicion makes all of us less safe. It even went so far as to launch an actual TV show, “Ring Nation,” on Amazon-owned MGM, featuring viral video from Ring cameras and other surveillance devices.

It’s become routine since Russia invaded Ukraine: President Joe Biden and Ukrainian President Volodymyr Zelenskyy speak by phone whenever the U.S. announces a new package of military assistance for Kyiv. Biden had barely finished telling Zelenskyy he’d just greenlighted another $1 billion in U.S. military assistance for Ukraine when Zelenskyy started listing all the additional help he needed and wasn’t getting. Biden lost his temper, the people familiar with the call said. Biden now faces resistance from some Republicans and Democrats that wasn’t present when Congress approved previous Ukraine funds. “I had an important conversation with U.S. President Biden today,” he said in videotaped remarks.

It's become routine since Russia invaded Ukraine: President Joe Biden and Ukrainian President Volodymyr Zelenskyy speak by phone whenever the U.S. announces a new package of military assistance for Kyiv. Biden had barely finished telling Zelenskyy he'd just greenlighted another $1 billion in U.S. military assistance for Ukraine when Zelenskyy started listing all the additional help he needed and wasn't getting. Biden lost his temper, the people familiar with the call said. Administration officials said Biden and Zelenskyy's relationship has only improved since the June phone call, after which Zelenskyy made a statement praising the U.S. for its generous assistance. "I had an important conversation with U.S. President Biden today," he said in videotaped remarks.

☆ Cannabis giant Canopy Growth crafted a complex plan to get into the US and reverse a stock slump. But some analysts say it could backfire.
▼ + stars: | 2022-10-28 | by ( Jeremy Berke | ) www.businessinsider.com time to read: +6 min

It's another consequence of the quasi-legality of the cannabis industry in the US. The Canadian cannabis giant Canopy Growth has long searched for a way to give its stock a much-needed boost. "We continue to have open conversations with the exchanges," Klein said. He added that Canopy's deal could provide a model for other Canadian cannabis companies that want to do business in the US. Jefferies said Nasdaq's objection to Canopy's plan was a key risk and that the rest of the cannabis industry should pay close attention.

They also give union members cash bonuses of $1,000 a year. All told, the backpay and bonuses will give union members an average payment of $11,000 per worker once the deal is ratified. After BMWED rejected their tentative deal, union leadership proposed adding paid sick days during a bargaining session, only to have management reject the motion out of hand. Congress can also prevent or end a strike by extending a cooling-off period or imposing a contract on union members. Union members working in other industries have recently balked at approving deals, even when recommended by their leadership.

China's strategy aims to win over "swing" countries to score United Nations votes, the diplomat said on Tuesday. Washington said it had taken note of the congress and stressed the importance of keeping open lines of communication. Like many up-and-comers, he is a former subordinate from Xi's days as party chief of the eastern province of Zhejiang. Other pro-reform policymakers excluded from the party's new central committee were outgoing economic czar Liu He, 70, and central bank party chief Guo Shuqing, 66. Also among the newcomers is Ding Xuexiang, who was Xi's chief of staff and named to the new Standing Committee.

☆ Lawmakers Consider Plan to Lock In Ukraine Aid in Lame-Duck Session
▼ + stars: | 2022-10-22 | by ( Warren P. Strobel | Lindsay Wise | ) www.wsj.com time to read: 1 min

WASHINGTON—U.S. lawmakers are weighing plans to pass a multibillion-dollar aid package for Ukraine before year’s end, congressional aides said, reflecting fears among Democrats and some Republicans that a new and potentially GOP-controlled Congress would be less supportive of such assistance. The discussions, which haven’t yielded a concrete legislative proposal, are aimed at wrapping potentially tens of billions of Ukraine aid in a must-pass, year-end government funding package, assuring Kyiv of continued military and economic support through 2023, the aides said. Congress has until Dec. 16 to fund the government and avoid a shutdown.

☆ Mitch McConnell breaks with Kevin McCarthy, pledges to send more aid to Ukraine if Republicans win the Senate
▼ + stars: | 2022-10-21 | by ( Oma Seddiq | ) www.businessinsider.com time to read: +3 min

McConnell on Friday urged the Biden administration to deliver more military support to Ukraine. His comments come after McCarthy expressed skepticism about sending more aid to Ukraine. Support to Ukraine has been approved on an "overwhelming bipartisan basis" and must be "expedited," McConnell said. A GOP split over Ukraine could take center-stage if Republicans retake the House and Senate in the midterm elections. In the meantime, the Biden administration could also push through a new Ukraine deal in the lame duck period before the new Congress begins in January.

☆ I drove Mercedes-Benz's $141,000 Tesla rival and experienced the electric, screen-filled future of luxury cars
▼ + stars: | 2022-10-21 | by ( Tim Levin | ) www.businessinsider.com time to read: +7 min

The 2022 Mercedes-Benz EQS 580. The 2022 Mercedes-Benz EQS 580. The 2022 Mercedes-Benz EQS 580. The 2022 Mercedes-Benz EQS 580. The 2022 Mercedes-Benz EQS 580.

☆ With GOP Ukraine skeptics poised to gain in Congress, lawmakers look to lock in billions in military aid
▼ + stars: | 2022-10-20 | by ( Dan De Luce | Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Julie-Tsirkin-Circle-Byline-Template.Jpg | ) www.nbcnews.com time to read: +8 min

Congress last month approved $12 billion in military and economic aid to Ukraine, but the package being contemplated would be dramatically larger, the sources said. The amount would be enough “to make sure [Ukraine] can get through the year,” a Republican senator with knowledge of the matter told NBC News. Congress has allocated a total of $65 billion in funding to Ukraine since Russia attacked the country in February. “They don’t want to deal with it next year,” said Vajdich, a former Republican congressional staffer. Republican Sen. Lindsey Graham of South Carolina, a staunch supporter of military aid to Ukraine, said last month that he had discussed the issue with McCarthy and that he agreed other countries need to do more to assist Ukraine.

☆ DOJ says it needs more money for the Jan. 6 probe. The next spending bill may be its last chance.
▼ + stars: | 2022-10-20 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Sahil-Kapur-Headshot.Jpg | Sahil Kapur | ) www.nbcnews.com time to read: +8 min

WASHINGTON — The Biden administration says it is in critical need of more money to bring the Jan. 6 rioters to justice. The Justice Department has told Congress that more than $34 million in funding is "critically needed" to fund the investigation. “The cases are unprecedented in scale and is expected to be among the most complex investigations prosecuted by the Department of Justice,” the Justice Department wrote to the legislative branch. Before they broke for recess, lawmakers involved in the talks told NBC News that the fate of the Justice request was still unsettled. I don’t have any problem giving the Justice Department the resources it needs to do that,” he said.

☆ Microsoft, Apple, Meta, other big U.S. firms run ads urging Congress to protect 'Dreamers' as DACA fades
▼ + stars: | 2022-10-20 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Julia-Ainsley-Circle-Byline-Template.Jpg | Julia Ainsley | ) www.nbcnews.com time to read: +6 min

“Collectively, we represent the backbone of an American economy facing tremendous workforce challenges as a result of the pandemic. Circuit Court of Appeals recently ruled that DACA was illegal but allowed more than 600,000 current DACA recipients to keep their status while a lower court reviewed a new DACA rule the Biden administration put forward. He is predicted to rule against the new DACA rule ultimately, because he found its previous iteration illegal. “Tragically, the 5th Circuit and courts have made it clear that not only did they rule the current DACA rule is illegal, but the new DACA rule will be illegal, too,” said Todd Schulte, the president and executive director of FWD.US, a group that has advocated for DACA to continue. “Now, no one trusts Democrats of the Biden administration to actually enforce the law and crack down on illegal immigration.

☆ Elon Musk says he's not like Warren Buffett as he actually makes things - and rules out copying Berkshire Hathaway's model
▼ + stars: | 2022-10-20 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Elon Musk made a clear distinction between himself and Warren Buffett on an earnings call. "I'm not Warren Buffett," Musk said on the call. "I'm not Warren Buffett's biggest fan, frankly," Musk said last year. After Musk dismissed Buffett's idea of competitive moats as "lame" in 2018, the Berkshire chief responded: "Elon may turn things upside down in some areas. Read more: David Rubenstein sees Warren Buffett as the ultimate investor.

☆ U.K. Treasury chief scraps nearly all government tax cut plans
▼ + stars: | 2022-10-17 | by ( Associated Press | ) www.nbcnews.com time to read: +4 min

U.K. Treasury chief Jeremy Hunt on Monday reversed most of an economic package announced by the government just weeks ago, including a planned cut to income tax. In a bid to soothe turbulent financial markets, Hunt said he was scrapping “almost all” the tax cuts announced last month and signaled public spending cuts are on the way. The unfunded tax cuts fueled investor concern about unsustainable levels of government borrowing, which pushed up government borrowing costs, raised home mortgage costs and sent the pound plummeting to an all-time low against the dollar. Hunt was under pressure to act before financial markets opened on Monday because the central bank’s support for the bond market ended Friday. The U.K. currency is now trading for roughly the same price it was on Sept. 22, the day before Kwarteng announced the tax cuts.

Speaker of the House Nancy Pelosi, House Majority Leader Steny Hoyer, and Senate Majority Leader Charles Schumer at the Capitol in Washington, D.C. on Jan. 6, 2021. “Thank you very much, Mr. vice president,” Pelosi says on the call. “Good news.”Trump privately knew he had lostPublicly, Trump insisted he was being robbed of an election he won. The president told chief of staff Mark Meadows “something to the effect of, 'I don’t want people to know we lost, Mark. “Claims that President Trump actually thought the election was stolen are not supported by fact and not a defense,” Cheney said.

☆ Josh Hawley says Republicans should ban congressional stock trading as their top priority in 2023 after Democratic efforts falter
▼ + stars: | 2022-10-13 | by ( Warren Rojas | ) www.businessinsider.com time to read: +4 min

Hawley says GOP leaders should make banning congressional stock trading their top priority. Congressional Democrats have floated various trading bans but haven't found a unifying fix. How about Congress pass an actual stock trading ban?" Fellow stock trading ban advocate Sen. Jeff Merkley announced a few weeks earlier that Senate Democrats were punting their own compromise bundle into the lame-duck session. Hawley's stock trading proposal, which only applies to congressional members and their spouses, currently has no cosponsors and is less comprehensive than many of the languishing Democratic proposals.

☆ A top Wall Street analyst says cannabis-banking reform is far more likely than many investors think. Here are the top 4 stocks he says to bet on.
▼ + stars: | 2022-10-05 | by ( Jeremy Berke | ) www.businessinsider.com time to read: +3 min

Cantor Fitzgerald's Pablo Zuanic says a cannabis banking bill may pass before the end of the year. Passage of the SAFE Banking Act would give cannabis stocks a much-needed boost. A long-awaited cannabis-banking bill may pass in the lame-duck session of Congress this year, a top Wall Street analyst says. The bipartisan SAFE Banking Act is a narrow cannabis reform bill that would allow companies that sell or cultivate THC to access the banking system. Cory Booker and Ron Wyden, have previously opposed the SAFE Act proceeding ahead of more comprehensive, criminal-justice-focused cannabis reform.

☆ The UK is gripped by an economic crisis of its own making
▼ + stars: | 2022-09-29 | by ( Mark Thompson | ) edition.cnn.com time to read: +8 min

“While this is welcome, the fact that it needed to be done in the first place shows that the UK markets are in a perilous position,” said Paul Dales, chief UK economist at Capital Economics, commenting on the bank’s intervention. “It wouldn’t be a huge surprise if another problem in the financial markets popped up before long,” Dales added. The UK government should also postpone its tax cuts, El-Erian said. We look like reckless gamblers who only care about the people who can afford to lose the gamble,” one former Conservative minister told CNN. “Truss and Kwarteng are now facing a severe economic crisis as the world’s financial markets wait for them to make policy changes that they and the Conservative party will find unpalatable,” the Eurasia analysts wrote.

The Democratic-led Senate confirmed four new circuit court judges in the last two weeks, most recently U.S. District Judge Florence Pan to the powerful U.S. Court of Appeals for the D.C. By contrast, Trump had installed 69 judges at this point in his tenure. The most recent two-term presidents, Barack Obama and George W. Bush, each secured 325 Senate-confirmed judges for district courts, circuit courts and the Supreme Court over eight years. McConnell's allies say a GOP-run Senate would force Biden to pick judges who are acceptable to conservatives in order to get floor votes. Republicans ended the tradition for circuit judges in the Trump era and some liberals want to end it for district judges so that GOP senators in red states cannot block Biden’s nominees for vacancies.

☆ How the Minions Became Hollywood’s Mightiest Franchise
▼ + stars: | 2022-09-23 | by ( Erich Schwartzel | ) www.wsj.com time to read: 1 min

How the Minions Became Hollywood’s Mightiest Franchise Animation studio Illumination decided to allow fans to become informal advocates for the thumb-shaped, gibberish-speaking klutzes‘If we create stuff and it’s lame, it will be held against us,’ says Illumination CEO Chris Meledandri, the man behind the Minions. ‘But when it’s just DIY, there’s great freedom to it.’Photo Illustration by Eleanor Shakespeare for The Wall Street Journal

WASHINGTON — A bipartisan duo on the Jan. 6 committee is rolling out legislation aimed at preventing future attempts to overturn elections, and House leaders are eyeing a vote as early as this week. In an opinion piece in The Wall Street Journal on Sunday evening, Cheney and Lofgren said the bill would include four components. Last week, Majority Leader Steny Hoyer, D-Md., notified members that the full House might consider the bill this week. For instance, the Senate bill would require one-fifth of each chamber to force a vote to object to electors. But in bringing the Cheney-Lofgren bill to the floor this week, House Democratic leaders are sending a clear signal about where their caucus stands on the issue.

☆ The Cure? Cut Taxes and Spending
▼ + stars: | 2022-09-16 | by ( Andy Kessler | ) www.wsj.com time to read: +1 min

A 45-day period will forever be known as a “Truss” for Liz Truss ’s tenure before resigning as British prime minister, much as 11 days is a “Mooch” for Anthony Scaramucci ’s short stint in the Trump administration. Come to think of it, a “Biden” is 208 days, the time from Inauguration Day until the fall of Kabul after the Afghanistan scram in August 2021. President Biden has been a bit of a lame duck ever since, and if polls are right, even more so after Tuesday’s elections. Unknown to many, U.K. pension funds had been hedging against interest rate increases, using derivatives with six or seven times leverage. As inflation hit 10.1%, interest rates were going up no matter what, which caused funds to dump gilts, or bonds, to pay their margin calls, crushing the currency.

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